19Oct3:43 pmEST
Before Our Final Descent Into Las Vegas...
Headed towards the third and final Presidential debate tonight in Las Vegas, which may as well be the final round of a heavyweight boxing title fight, bulls are putting up a fight of their own with a slow move higher today.
To be sure, there are plenty of stocks holding up well. But in a rangebound market simply "holding up well" may be worth keeping the name on watch, but also can be frustrating as the broad market essentially keeps a lid on upside progress.
One such example would be GrubHub. GRUB got whacked this morning on news of Facebook competing directly against GrubHub with a service of its own.
Initially GRUB was down more than 2%. However, the name is now flipping green as I write this and continues to sport an impressive chart in an overarching uptrend. Should the market gain steam higher, it will make playing names like GRUB more profitable on the long side in terms of actual momentum, as opposed to fending off bear raids based on news.